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him about 18 days to make the passage from lasa to india, and during that time, president eisenhower received radio reports from the c.i.a. director, every other day. charting the progress of the tibetans, the c.i.a. had managed to train and put in place some agents, who could accompany the dalai lama on a very hazardous journey through the mountains, and eisenhower was in almost realtime getting information about what was happening. thanks to geshae. geshae was brought down to washington to a safe house in georgetown to translate the radio reports coming out of tibet about the dalai lama and his movement. once he was safely out, a full fledged guerrilla operation began. i think the tibetan national uprising in which some 85,000 tibetans lost their lives, was probably the high watermark of that resistance. many of the weapons that had been flown into tibet and parachuted down to the himalayas came as a result of the american support operation. the dalai lama himself never personally sanctioned this violence. in fact, he was very dubious and for a long time, the united states is the c
>>> tonight on "worldfocus" -- >> in india, swine flu has triggered a wave of panic with schools, theaters and shopping malls shutting down. tonight we investigate the health threat there and elsewhere. is the flu fear justified? >>> glimmer of hope. surprising numbers show germany and france have pulled out of recession. could the rest of europe be far behind? and what does that mean for the u.s. economy? >>> as secretary of state clinton meets with the first woman president of liberia, we look at the women's movement in that west african country. a force so strong, it drove a dictator from power. >>> and we continue our look at the impact of climate change on remote lands. traveling to cambodia to meet the monks out to save a forest one tree at a time. >>> good evening, i'm martin savidge. we are going to start here tonight with a subject that has a lot of people here and throughout the world increasingly concerned as we heard towards fall that. subject is the h1n1 swine flu virus, which according to the world health organization has killed just under 1,500 people worldwide. ri
>>> tonight "worldfocus" -- >> in india, swine flu has triggered aave ofpanic with schools, theaters an shopping is the flu fear justified? >>> glimmerof hope. surprisingumbers show germany and france have pulled out of recession. coulthe rest of europe be far behind? and what does that mean for the u.s. economy? >>>as secretary of state clinton meets with the first woman presidt of liberia,we ok at the womes movement in thatest african country. a force so strong, it drove a dictator fm power. >>> and we cntinue our look at the impact of climate change on mote lands. traveling to cambodia toeet the monks out to save a forest one treet a time. >>> good ening, i'm marti savidge. we are going to starhere night with a subject that ha a lot of people re and throughout the world increasingly concern aswe ard towards fall that. subject is the h1n1 swine f virus, which according to the world health oanization has kied just under 1,500 people worldwide. rit now it's spreading through india th its vast and densely packedopulation, to use the words of "the new york tes." it has been c
be off the on markets like india in particularly actually. >> mark, this is christine again. one story we're focusing on, china's wealth fund, cic to buy u.s. mortgages. what does it say about the chinese appetite for u.s. trishes, and is this an ideal investment for the chinese? >> gee, i didn't see that news headline. i would say $2 billion isn't a lot of money for china. it's a lot of money for the rest of us but not for china. the chinese have been very explicit they want to take advantage of the weak prices globally to make acquisitions. they've been trying to make acquisitions in resources around the world. i don't read anything huge into it. sorry, christine, not one way or the other. >> thanks for joining and sharing your thoughts with us. mark matthews and aaron snipe. >>> banker bonuses under attack from all sides in the u.k. chancellor alstair darling told the sunday times he will change the law to ensure compensation is not paid to employees whose actions put banks at risks. the comments come with reports from bar clays is offering a massive package for several employees being
, israel, india and pakistan, they are not bound by the treaty, but iran is. iran violated that treaty in approximate a series of approximate a series of differen iran has been sanctioned by the united nations for those violations. the sanctions are too weak to cause a change in iran's behavior, but at least it it demonstrates iran has violated the treaty responsibilities. the fact is that while iran has the right to develop electricity from nuclear power plants, they are flaring their natural gas they could generate electricity for a couple kilo watt. >> host: why are they? >> guest: they have no way to export it, liquiified natural gas plant to markets. >> host: back to afghanistan, full page, photograph for afghans, a new test of democracy, their presidential election. their elections are coming up in 10 days, i believe august 20th. what are your hopes for the election? >> guest: a fair and free election would be outstanding step toward building afghanistan as a state. i can't tell you that i'd vote for this candidate or that can d candidate? >> host: is karz ai the best candid
this year. dell hopes china and india will drive revenue growth next year. it looks like we are up big on those earnings reports. good news there. dell enjoying nearly 8.5% higher. hank greenberg tells cnbc that there's no truth that he's leading a grew buyback for aig. aig rose 26% on tuesday on reports of reaching out to determine how to run the company. well, you can get more news, videos and blogs online at cnbc.com. ross. >> still to come on today's program, as well, deflation unemployment hit record highs in japan. we'll assess the likelihood of the land slide victory and what it means to investors. the u.s. economy that long 1% in the second quarter, unchanged from our initial estimates. from post party sickness syndrome? there's a revolutionary cure. it's called cascade all-in-one actionpacs. and it's like adding the ultimate button to your dishwasher. because it has the power to pre-wash... dissolve... and rinse the whole mess away. so in the morning your dishes will feel like new again. and so will you. cascade complete all-in-one actionpacs. >>> okay. we've got the global up
employees are in india. >> the majority of our employees. >> how did you feel when president obama earlier this year talked about providing tax benefits for companies that provide jobs in boulder rather than bombay? >> look, i think that the critical thing to focus on here is how do we get the economies of the world around the world healthy most quickly. the quickest way to do that is to give companies in different parts of the world access to the best talent regardless where that talent is located around the world. there is tremendous talent available in the united states and we are active employers here in the united states. we have 12,000 people in the united states. but equally we've got talent around the world in india, in china, latin america. and we think the best way for to us help our clients be stronger businesses is by givinging you access to that global talent pool. >> state of economy, where are we when you look around the world in terms of whether or not we're going to finally recover here? >> i don't have a crystal ball on the economy. our planning assumption is that the eco
into the g8 and then you go to g9 and india and brazil will say what about us? so maybe you need a g11. >> i didn't hear russia in there. >> russia's already in the g8. you read it. >> china clearly is on at sent, particularly -- on the assent, particularly on economics. they are spreading their tentacles now into central and south america, reinvigorating relationships with chavez and the castro brothers in cuba. they are also reaching deep into africa and the middle east. so we've got to watch them strategically as well as economically. >> so exit question, is it obsolete or not, the g8? >> no, it's not but it will have to be slowly enlarged to include india and probably brazil. >> i'm not advocating a g2. i'm just saying china and the u.s. have to be partners in a lot of areas. >> i agree. >> the vice president of the united states is encouraging the china/u.s. relationship. she deserves a lot of credit. >> new york the secretary of state. >> excuse me, the secretary of state. >> right. >> there's been renewed interest in asia since barack obama came to power. hillary clinton's been to sou
in india, as well. india will be an economy we will take far greater notice of as the years go by. i agree totally in the decoupling. we are continuing to see that shift in economic power from west to east. we have too just to it. you have to adjust to it. far more severely than we do. it isn't something that is going to go away. but it cannot done and we will do it. but whether it will be deflationary or not, i'm not quite sure. >> meanwhile, howard, if i can just change tax slide, a large part of the rally in europe has been from financials. but we heard from rbs today who added realism. >> yes, they did. it has been an amazing week. yes, we were very glad the it's all over. what a week for banks. the good, the bad and the ugly. well, if the ugly is royal bank of scotland today, then we can actually live through it. but you know, the bottom line is that there's still a massive write-off here. banks are not performing in the way, the manner which they need to. there's a lot of clearing of decks to do and there's a lot of change of strategy still to come. but well done to those like hsbc a
china is about 30%. if you look at 40 years down the line, china and india will be above that. so you have an enormous structure taking place and, therefore, a strong engine of growth. clearly, if the u.s. consumer was going to collapse again, i don't think the chinese, indian, brazilian consumer would be able to compensate. but if we have a stabilization, as i believe we will have in the western economies, i think that the marginal call is going to be on the emerging economies and i think that's the engine of growth. >> manford, what do you think? to believe what virginie said makes you think asia can decouple with what's going on in the rest of the world. >> i have to agree with her to a larger extent. the asian consumer is becoming more important. but the absolute numbers don't show it. it shows an increasingly large consumer. but we need the situation where the u.s. consumer does recover to at least a moderate extent. i don't think complete decoupling is a possibility. >> mamprett gill, thank you, thank you, virginie, as well. >> thank you. >>> west lb is refusing to comment on su
of india, july imports 68% year over year. exxon mobile and petro china, $41 billion deal for gorgon project in australia. but that is making major news in the gas complex today. mark, back to you. >> a rally in asia overnight. let's check out some numbers. shanghai composite, jumping 1.4% a day after suffering its biggest loss of the year. bombay sensex up 7%. what's going on in europe, guy? >> we are in positive territory at the moment, but as you can see the cac is off. barely in positive territory. the story remains very, very cautious. volatility is down fractionally but nonetheless looking at a very, very nervous market. let me show because we've done today. the housing data did have a big impact on the markets, dragging us down and stoxx 600 is up by 0.5% at the moment. let me talk about the data points out today. uk inflation is very, very stick y it's still positive, one of the on the advanced economies that still have economy at 1.8. you strip out mortgages that number goes negative. the survey out of europe very positive as well. making pointing to a positive g3 for the ge
, india and pakistan, they are not bound by the treaty, but iran is. iran violated that treaty in approximate a series of different respects and iran has been sanctioned by the united nations for those violations. the sanctions are too weak to cause a change in iran's behavior, but at least it it demonstrates iran has violated the treaty responsibilities. the fact is that while iran has the right to develop electricity from nuclear power plants, they are flaring their natural gas they could generate electricity for a couple kilo watt. >> host: why are they? >> guest: they have no way to export it, liquiified natural gas plant to markets. >> host: back to afghanistan, full page, photograph for afghans, a new test of democracy, their presidential election. their elections are coming up in 10 days, i believe august 20th. what are your hopes for the election? >> guest: a fair and free election would be outstanding step toward building afghanistan as a state. i can't tell you that i'd vote for this candidate or that can d candidate? >> host: is karz ai the best candidate to hav
talking you with you. thank you very much. let's head out to india right now. mumbai for the latest on the india bit report. ayesha faridi joins us. hello, eayesha. >> thanks for that, christine. after a very tough day, more action seen for the broader market. while the sensex is a shade odd in the green, the crucial point, i think, is that is standing above that 4,700 mark. and it's the broader markets which have seen more. meantime, of course, a lot of things are really playing up. banking is one such bank. this led to the kind of recovery that we have seen today. so a couple of these counters and not just the heavyweight counters, development credit bank amongst the midcap banks had been showing you gains of about 5 odd percent. you've got axis bank is holding up by about 1.5%. icici bank, over a 3% move. l&t is doing out quite well. in the meantime, we have got a couple of news reports, still unconfirmed, that india plans to sue the euro union at the world trade organization at the wto for allowing big pharmaceutical companies to detain engine nettic drugs in transit to developi
billiton, marius kloppers. that's at 8:40 eastern. let's turn now to india. ayesha faridi joins us live from mumbai from the india business report. ayesha. >> thanks for that, christine. it's a bad wednesday for the indian economic markets. it's sliced through 4,600, 4,500 and has even broken the 4,400 market in trade today. it's recovered from the low point of the day. just about half an hour can ba, we were seeing 2% cuts for the sensex and the nifty. the bodder markets reeling under pressure there, as well. in fact, most technical analysts do believe that 43.50 thereabouts is now the next resistance thorn for the market. the big losers in trade are the entire technologies space. you've got realty which is facing a lot of pressure in trade today. so these are the two weak pockets. besides that, a whole hoeft of these heavyweight counters have also been weak. but economic data has been very positive. we have market expectations about 7.8% across the board growth, but currently, the market is more worried about the global weakness that we are seeing. with that, it's back to you. >> ayes
on india? we have the economy growing 6.1% in the june quarter. how sustainable is it once this sort of stimulus kind of wears off? >> well, it seems that, you know, all those countries that have been hit much harder than the u.s. itself, the u.s. was the epicenter of the crisis, but all the asia countries have been hit much harder and have fallen down further. so they rebound also in a stronger fashion. i think this is just a rebound of, you know, looking like more recovery potential. but i think, you know, as the u.s. is also picking up speed now in the third quarter. we should be quite a sustainable recovery across asia. >> yeah. we also have in japan, of course, a new government in place. we also have mixed data coming out, japan today. we have industrial output better than expected growing 1.9% in july, but retail sales also falling in july, as well. how do you think all of this is going to weigh on the bank of japan? >> well, we think that the bank of japan is going to keep the monetary policy for a considerable period of time. but certainly what we are now seeing is at least i
choir talking to us live from long congress. >>> from talking about china, let's talk about india. ayesha faridi joins us live from india for the indian bit report. >> thanks for that, christine. the markets have picked up. 4,500 is back for the nifty. similar is the case for the sensex, as well. so you do have those pockets which actually give up their gains in yesterday's trade. for example, the entire auto basket is holing up strongly. tata motors is notching a 6.5% gain and you have the entire sugar pack on the kind of prices forming up. the entire sugar sector is picking up very, very much. we are picking up reports that the government has indeed chosen strife arkalap to be the generic formulation of tamiflu. they haven't got an official word from the government in terms of the kind of orders that they may actually bag and what sort of price appreciation or rather margin bump up it may lead to, but the stock itself is holding up very, very strongly in trade. meantime, 161 strains have been confirmed. with that, it's back to you. >> ayesha, thank you very much. in asia, yanzhou coal has agre
figures. outlook for the emerging markets, especially for india, that was very reassuring to investors. but holcim says it doesn't see a recovery before next year. are a part from that, we're watching ubs after the swiss government says said it will sell its ruffle 9% stake in the market until august. that will probably be somewhere around 70 so it will leave the swiss government with a nice profit here. overall, analysts are a bit more bullish especially that we heard the u.s. sacks has been signed yesterday and two major obstacles for ubs are out of the way. before i let you go, let me mention the swiss access data, we saw a drop of 27% from july so a small improvement compared to june when we saw a drop of 28%. that is it from zurich. >> thank you very much, carolin. the volumes are very low today. the french mngt is bouncing back after a flat session yesterday. total, the largest french oil producer, is up 2.3%. oil services, they are doing well on the back of increasing oil prices yesterday. also in good shape today, almost % higher, the dugmaker is boosted by a decision in the u.
of inflation especially in areas such as india and china, if we start to see areas there, we'll see commodities sustained. i am against ru bin on this particular point.t. i think we will see a stronger move ahead. it's more inflation led. the cost of money being so low at the moment that's driving that price. if we start to see a tightening, then the commodity rally westbound able to be sustained. >> martin, always a pleasure speaking to you. xw >>> shares in barclays trading higher after a profit jumped 8% in the first half to just under $5 billion. the numbers were shy of forecast after impairment charges on corporate and consumer loans jumped 86%. the profit of the group's investment dropped from a year ago thanks to the acquisition of lehman brothers and commodity revenu revenues. speaking first, the president bob diamond, said the bank is getting conservative. >> it's getting easier and easier to see exactly how it's going to play out. we are expecting a difficult second half in the year in terms of provisioning. that's part of our plan. >> in china, more signs that the government is putti
for joining us. let's head over to india and join ayesha faridi live for the india business report. >> thanks for that, christine. standing or staring at that 1.5% gain for both the sensex and the nifty. might i add, it has come off from the top of the day. we're almost staring at a 100 point rally for the nifty just about a while ago. technology has been weak in trade today. watch out for counters. unitech amongst the real estate space, it's almost a tug of war space. reliance industries, which has an extremely high weighted in the index, that counter is flattened. but the rest of the market is looking good. telecom is definitely in focus. reliance communications now, we are expecting up from our sources that reliance communications is in talk for source based information up now. but that counter is holding up. more update coming in part and mtn, the deal is currently on and our sources indicate that the board will be meeting today. if it is conclusive, we can expect some agreement from the deal in the next ten days. the going has been good for that one. the metals space and the real estate
this market. and the sensex in india, only market trading on the up side right now, up 0.3%. overall, a weak picture here in terms of crude oil and nymex crude. down 21 cents. concerns about global demand weighing on this, nymex, $71.22 a barrel. brent is falling, as well, down 30 cents, $71.35 a barrel. mike, good to see you. how are the futures looking today? >> good afternoon, christine. good to see you, as well. and the futures at this point are looking like the dow is going to shoot for straight eight with seven consecutive days tying its longest win streak of the year. it looks like we could have a mixed open at least in about 5 1/2 hours time from now. moving on to the treasury market on the back of another relatively successful auction yesterday of two year notes and ahead of another auction today of seven year notes, we do see the bund yield creeping up at 3723%. yesterday, the price went up just a little bit on the benchmark ten year t-note and the yield came down and that trend is continuing, although it's basically unchanged with yesterday's close right now at 3.43%. and then mov
and india and they're going to be growing very, very rapidly. >> that's where the fish are. fish where the fishes are, right? $1.33 billion people in china. >> larry, do you see a move of that magnitude over the next two years? i see growth, recovery, a little bit slow. the consumer may be out of the fetal position, but not really doing a whole heck of a lot right now. that's two-thirds of the economy at least. >> we're bullish. i don't know that we're that bullish. that's a lot to expect given how far we've come. i think you're right. the consume ser truliry weak. retail sales rely lousy. let me put it this way though you. need a weak consumer to prevent a real recovery. in other words, a few quarters of 5 or 6% growth but the consumer comes after the labor market gets going. i think the risk is you get a normal recovery. people are surprised. that will keep this market going. down the road in a couple years, i think where you run into trouble, they've got at some point they have to withdraw some of the stimulus. we can't run these deficits. that's why i'm not so bullish to say 50% hi
's basically the only computer people are going to have in emerging markets. in india a government regulator just put out a report, four times as many people getting on the web on their phones as on their pc. >> what about that? do you buy into some of these trends or are you just literally looking very specifically at dividend plays and value plays? >> well, one of the things that we've seen is the u.s. consumer and consumer around the world is actually continuing to buy stuff, which is great. you would think that with the challenges the consumer has faced over the last year or so in deleveraging and everything else and the job market the way it is the consumers wouldn't be spending. but one of the things that we're hopeful about with the economy is that the consumer's actually out there spending money. >> well, what about the market here? you're talking about a market that's up 50% from the bottom on march 9th or so. >> we think right now we're pretty much as close to a maximum value point for the moment. when third quarter earnings come out, we expect them to be pleasing enough that the m
: in addition to asean, the rmb can then be used as a trading currency with india, pakistan, russia, japan and korea. and the third step is to use the rmb globally. that's the general plan. >>reporter: actually, this is a huge plan - that's aimed at reducing the us dollar's dominance as an international currency. but first, beijing has got its work cut out. the country needs a social safety net to help through any financial shocks. and it should also liberalize its capital account and the convertibility of thecurrency. only then could the rmb hope to join the reserve currency club. >>song: and right now, we're not there yet. still we need a lot of time to build up china's capital market, banking system and also the social security and the insurance system. >>reporter: as for a time frame, the jury is divided - optimists cite 15 years, the pessimists 40 ! >>: for now, china will pay for brazilian sulphur in dollars. nonetheless, neighboring governments, eventhe us, welcome measures, albeit modest, that allow greater international use of the rmb. but some asean traders still need convincing.
for that report. >> in india, ayesha faridi joins us live for the india business report. >> we participated in the global rally today. yesterday it clocked a new high for ourselves and the nifty clocked that or cruised past that 4,700 mark. today, the markets chose to consolidate. the biggest drav dragger is oil and gas heavyweight, which is why you're seeing the nifty break away and increase those values. tata motors is your biggest gainer for today, at almost 6.5% gains. there are also rumors in the market that they may get the loan guarantee approved for the government for bridge loan acquisition of land rover. besides that, most of the commodity stocks have been doing very well. you've got auto ancillary stocks looking very well. the monthly sales numbers that came out for auto stocks and infillry stocks are picking up in trade amid the mid and the small caps are holding up, as well. >>> elsewhere, we are looking at euro's biggest bank, hsbc, the company could soon be one of the first foreign companies to list in shanghai. reuters says it could raise up to $7.3 billion in a shanghai ipo
for the future. >> jean-marc boursier, thank you. thank you. >> in line with the rest of asia today, india is trading higher. we're joined now by ayesha faridi. thanks for that, maura. tale, it's been quite a choppy day. while it has struggled or tried not to hit the 4700 mark for the nifty, it isn't really being able to do that. it has made many attempts now for the trading session. all indices are in the green, but a big winner, indeed, or trade is indeed in force and the entire i.t. pack. clst is a brokerage which has been bearish on the entire i.t. space in india and is upgraded and it has upped the price target, as well. and they do also believe that they may beat fy '10 guidance and that is bringing volatility to the space, including in the midcap space. another stock in focus is united which is down by almost 2% in trade today. here is the news why. they have now called off stocks for diaggio sizing high evaluations and anti-trust issues as to why it was called off. it's a sentiment and a dampener with knee jerk reactions coming into it there. meantime, of course, we have a couple o
of rain. >> india aa land slide triggered by heavy rains and leaving 43 people dead. police officials say three remote villages are buried. locals are dig through mud and rock look for those missing. extensive deportations left the region prone to land slide. new zealand. a church packed remembering those lost and wednesday in the ferry disaster. princess ferry sank with 149 people on board and 54 of them survived. police are investigating whether anyone could be criminally liable. >> iraq, sign of improvement as removal of protective blast walls on baghdad found on every street in the city. they separated closely knit neighborhood and now they are iconic simols of war and symbols that many are ready to put behind them. that's the wrap on fox's trip around the world in 80 seconds. back it israel a deadly shoot nothing a gay and lesbian youth center, and now the investigation where it stands. ria ninan has the latest. >> police are searching for a suspect and they will not reveal what the moist was for the attack. >> memorial in downtown tel aviv was held under tight security. tens of thou
warnings sending pan you bed residents foot streets. first quake registered a 7.6 and it hit nar india. falling debris killed a woman when another temblor shook tokyo. the two quake are likely not related and they hit about 10 minutes apart. >>> in taiwan, taiwan television says a helicopter with six crew members has crashed in a typhoon rescue mission. # 60 typhoon victims have been rescued from the area around a remote mountain village buried in a mudslide. many more are still buried. the mudslide triggered by the typhoon that dropped as much as 80 inches of rain over the weekend. in eastern china, another landslide has toppled seven apartment buildings and it is not clear how map people may be trapped. >>> divers will be back out on the hudson river this morning trying to remove more wreckage from saturday's deadly midair crash. crews are scouring the murky water. they located the small ailane and the body of the final victim inside of it. nine people were killed. divers have already removed the mangled chopper. politicians and aviation experts are beginning to brainstorm ways to pa
people injured. the first earthquake was a magnitude 7.6 in indian ocean near india's andaman islands. the second quake was a 6.5 magnitude near tokyo. tsunami warnings issued but later taken back. >>> the same state senator called for sanford to resign after having an affair and now this republican calls for sanford to resign after book in first class flights to european. and he says they are wrong. >>> police are looking for man holding a gown a woman's head during a bank robbery. it shows the man pointing a gun toward a teller and threatens to take a customer hostage. the woman was able to get away but the suspect did take some money. >>> talk about somehow getting lost in translation. secretary state hillary clinton got angry during a q&a session with congolese university student. the student speaking in french asked what president obama would think about chinese financial contracts with congo. but the translator apparently made a mistake and asked secretary clinton what mr. clinton would think. that didn't go over very well. >> you want me to tell you what my husband thinks? my h
in india what's your game plan there. >> first of all, we explored how we could work together. the reality is that we didn't get a. agreement on, you know, vj's price expectations. having said that, we pass a very good friend. i think he admires our portfolio. i have a huge respect for his business. but today, nothing with all discussions. >> paul walsh, thanks so much for joining us. we appreciate it. >> thank you. >>> all right. let's check those futures once again for you. we're just kind of hashing around here close to fair value. dow supposed 1.20. right around fair value. no big deal at the open unless something changes dramatically. >> something exciting could happen. >> yeah, you never know. >> never know. >> someone can issue a press release or make a statement and we could be -- >> we could try and do something exciting. >> -- off to the races. >> we might have something really exciting planned. no, okay. anyway. >> i don't think we have anything planned. anyway, time to get the word on the street. here on the floor is warren meyers, cnbc market analyst, pepperdine, hardest worki
, one hears that the russians have been selling more advanced weapons to india, they have also sold some advanced weapons to malaysia and i understand indonesia. they have, obviously, a deep oblem with japan because of the northern territories, but nevertheless, if the rusans were to see their relationship with china as in some respects inhibited, aren't the assets avaible to the russians to, if you like, increase their livery somewhat? >> well, the russians have been trying to exercise those. they understand that, and so, for example, the arms relationship was always something that implicitly if the tensions became worse, the russians could do what the united states did after tiananmen which was cut that off. but now the chise can develop a lot of this stuff indigenously, so that leverages decline. the oil and gas we discussed, it's something that russia's been trying to use to, say, threaten or not threaten but really just bargain off china and japan and other countries to get them to pay higher prices, and the chinese for a while, you know, pretty much stood on their terms. now the ru
, france and germany in recovery in the second quarter. we know china. we know india. i mean, aren't these favorable conditions, mohammed may be right about a short-term pull back. but you look at the global scene, you look at the u.s. scene, really isn't this the moment? >> i don't think anybody is debating that the trajectory is certainly improving. i think that the real question here is matching up where expectations reside relative to where securities are valued at this point in the cycle. and i think it's absolutely reasonable after this massive move off what we're quite admittedly over sold levels in march, for us to take a break and think about just how realistic a 25% earnings growth rate is going to be in 2010, because right now, that's about where this market is assuming. >> okay, so craig, how long a break? you say take a break. when are things going to actually shift is and move upward in your opinion? >> we have got to get through the next cycle of corporate earnings. coming out of the second quarter, this market had a terrific sense of relief, because earnings estimat
profits from india's tata steel looking to soar on reports of higher prices and improving demand. tune in to cnbc world to catch all the action overseas. at cnbc's asia headquarters i'm adam bakhtiar going global with your money. >>> well, high-yield bond funds have had a good month so far. 30-plus percent year returns attracting almost $15 billion in assets. has the rally begun to run too far too fast? joined by jim keegan of the ridgeworth immediate bond fund and brendan white of the touchstone high yield bond fund. gentlemen, good to have you on the program. what's your thoughts, jim? >> at this point, maria, all risky assets have run very far very fast in a short period of time and our view right now is the economy is experiencing what we consider to be transitory growth and it's all about the consumer. the consumer is the lynchpin to the u.s. economy and the global economy and we just see that there's a secular change going on in consumer spending behavior driven by four factors -- less consumption, higher savings, less leverage, more regulation, and higher taxes. >> so what do yo
and domestic fund holders sold equities in india in the past week. what do you make of the chinese story here? >> what i would read into that is china's been the leading indicator of all the economies throughout the world in that they've put their money to work a lot more aggressively than we have where there's a lot of bipartisan debate as to how quickly orr where the money should go. they put it to work and restocked commodities across the boor and that on a week over week basis has been slowing down and if you look at the baltic dry index it's actually down 26% from the june highs and put the june together, slower baltic dry index that's come down, and people sense that perhaps they're taking a step back and the economy that's been surging throughout the world. people are a little bit nervous, and it's hard to argue points made earlier. but i think the best way to go about investing right now is to buy high-quality growth stocks that aren't dependent on the capital markets, that are doing well despite the structural problems that still exist. >> you mention a good point in terms of the bal
. now asia is producing for asia. because we have this very big market of china.a. we have india as well. and japan is still a very big economy, even if it's in recession. >> the world is watching to see how china will make this transition from an export-led economy to a consumer-led economy. you think that transition is well on its way? >> we are seeing it. we are feeling it in the philippines. china buys of course a lot of electronics and minerals from us, which fuels their industries, which are also export oriented. but at the same time china is buying a lot of fruits from the philippines, and that is for the consumer economy. >> i want to get your take with regard to what's happening in regard to rice. a couple of years ago we saw rice prices soar. how do you avoid a situation like that happening again? >> well, we've learned a lesson. the economics of rice has changed. because you know, like the philippines, we are -- rice is our staple. we really eat rice all the time and in big quantities.s. but our country is an ark pell ago with lots of mountains and we don't have great plains l
of health care. we're seeing americans going to thailand, to india, of all places, for high-tech operations. coronary bypass, hip replacements because they can get better care in the countries. we do not have the best health care in the world. and we should be embarrassed for the amount of money that we spend and what we have to show for it. >> dr. weil, i appreciate your perspective. we'll take another quick break. we'll get back to the other physicians. they have different perspectives on what's going on when we come back. >>> crowds turned out once again today. as we indicated earlier. some people had serious questions. some had their own agenda. here's what they were talking about wednesday in maryland and iowa. >> how are you going to look at my children? >> if we don't get health care costs under control, our national debt will continue to grow. >> we, the american public, are given the time to really understand and digest that. and that we not run that through like we did the stimulus pack ak -- package, like they did cap and trade. >> if anybody criticized the need for negotiating,
coming out of china, out of india, some domestic growth but it will be a slow growth. i don't think there will be no growth but slow growth. there is a risk we turn down later in the year. a lot of -- >> later this year? >> well, i would say into 2010. but you guys and i agree are great fans to warren buffett. he's noted for saying, you know, forecasting the future, tell you more about the forecast than they tell you about the future. once you get beyond the 12-month rice, you're talking politics s rather than economics. it will be highly unusual after fiscal stimulation in the monetary stimulation, injected in the economy didn't have the intended effect. >> over the weekend barron's said you would almost prefer a return that's tepid, because as long as the economy is subpar, less politicians are, they can't force through legislation, you go along with that or would you rather have a booming recovery? >> no. steady as she goes. >> really? >> give opportunity for the excesses to unwind. same thing for the stock market. our target at the beginning of the year, my vice chairman, a grea
's happening in china and india. >> yeah. see, here's the problem. i can't pull into the gas station and say, oh, that's above the fair market value. i'm only going to give you $1.95 a gallon. how much of this -- you said it was speculative. is it still liquidity -- a liquidity driven phenomenon? there's a lot of liquidity going into the market. >> you can't do a thing about it right now. obviously there's a lot of money on the sidelines that look for asset based investments right now. oil is becoming an investment right now so many different individuals. the fact that we're trades in the $70s and oil is nearly spilling on the ground in the united states, the consumers are so down and out right now. the fact that we are trading above fair value that will be rectified here very soon. >> conceivably, we could really -- oil prices could really crater? >> we think that we have the supply is nearly at an all-time highs right now. opec has -- >> we should be, what, $30? >> we should be probably around $50 to $55. we do have china and india. their economies are doing well. the u.s. is still by far
limited. >>> from china, let's switch gears and head to india. ayesha joins us for the business report. >> it's been a volatile monday. asia was holding up. started off on a positive note. within minutes of trade it slipped down. around the 4500 level. just marginally holding. that's the case for the broader markets as well. what's dragging the indises down is the monsoon worries, which still hasn't picked up in certain key regions of the company. you have a couple of monsoon sectors. big draggers today. unilever stocks one of the losers today. what's gaining on the flip side is the entire i.t. sector. they are maintaining a good 6% gain right now. of course, pharma is holding up pretty well. in the meant, talking about monsoon, the worries clearly continue. they have actually stayed down the long-term forecast to 80% from the previous 95%. that as the market is watching. meantime, the swine flu death toll has risen in the country. in fact, it's gone up to six, with two deaths reported this morning in all. so that, of course, is bringing a flurry of activity with the entire pharma pack
last week. this market is up 1.1% today. the hang seng up 1.7%. and the sensex in india up 2.4%. in terms of nymex and crude, it is up on recovery, hopes that demand could be picking up. crude at $73.80. down two cents. brent as well, down five cents, $74.13 a barrel. a little bit of a putback in terms of nymex and brent. let's cross live to tokyo and check in on the trading day from the nikkei. >> thanks, christine. tokyo stocks rebounded sharply monday. they closed 3.35% higher. verch investors were hearted by friday. the market jumped 8.4% while cannon gained 3.6%. hitting the year to date another. the nikkei reported that the firm stands a chance of pushing profit in the year ending next march instead of the projected 10% decline. >>> meanwhile, polls are projecting a landslide victory for the main opposition party. investors are even more concerned that dpj lawmakers have been calling for tighter regulations on the consumer finance industry. confirming the nikkei report, the second largest convenience store operator lawsan, and matsumotokiyoshi have announced they will f
on the india business report. >> following it up from asia, down by 50 points for the nifty right now. almost over 1%, though it's recovered from the low point of the day. we were staring down by about a 2%. you are seeing heavyweight selling, beat up markets are selling off and you are seeing institutional selling coming in. so reliance industries or in gc, both of these counters are giving off a lot by way of momentum. you have counters from the entire real estate space like unitech and glenn mark pharmaceuticals, that is one count which is in focus and trade today. here is perhaps the reason why. forest labs currently says they did not show positive results in the phase 2b trials pop so any jerk reaction coming in on opening bell. the counter was down about 18 odd percent. still continues to suffer, down about 14% on last count. some bit of recovery in ranbaxy, idn and a couple of other counters which have which has sold off a bit in the last week or so. with that, it's back to you. >> ayesha faridi, thank you very much. and it's back to becky now. >> the world is focusing on the economic
news is bullish. we forget in the crude oil market, it's china and malaysia and india and indonesia and it's asia that is now the real demand change in the energy market. we are becoming less and less important. we might be the largest user, but the greatest increases and change and rate of change in demand is going to come from there. china we have to remember is the largest taker of every raw material in the world. chinese buy suggest taking it higher. we break out above 75 and can go to 80 quickly. >> at the same time we have all been watching china this week as a leader to the u.s. markets. whatever they did, we tend to mirror that. there is concerns about china and the recovery and the pace going on. at the same time can you make the case that it is china and asia driving the surge in oil and at the same time we are fretting about whether they will continue at the pace. >> china will continue at the pace and we are more concerned about whether the stock market was a bubble and does beijing want to try to keep that from getting too hot? is the chinese economy going to be more ab
, actually, i don't know if you can pick this up but a picture about people in india driving harleys. it speaks about this growth handoff. they eventually want to have -- if there's going to be an engine of growth it won't be in the united states because the consumer is having difficulty. it has to be the rest of the world. we hope as the rest of the world moves up the income rung they'll be buying more american-made products and global trade will pick up. >> and what's the running price of a harley there? like 1,000 bucks? the average salary of a person, a commuter, is $1,000. it would be difficult to afford the hog right now. >> in india and china, you have the motorbike, the dad in the front, baby on the lap, mom on the back with groceries and a chicken stuck on the back. really cool on the harley. >> they do look good. >> just a short time ago we didn't think anyone anywhere was going to buy nonessentials or an american-made product. people are and it's a good thing. >>> coming up this morning's top stories and also jim and tony take on them. plus, could a brawl be on the cars? t
trade, which is to say europe, china, japan, maybe in the future brazil, india and so on, as long as they are not on this fta list and the ogrin is marginal. then you have the doha round. centrality of agriculture to it is very important to poor countries and i think american farm -- farmers and ranchers have a good case to say that their industry is more restricted and more limited by foreign trade barriers than any other. agriculture is about eight or 10% of american exports which is not going to go even if there is a big and successful doha round. so i think if the administration goes to the public and says we want to make a big push for doha at least as it is and for these fta is the public will say the president is a smart guy, i kind of trust in. not got much to do with me. and given that trade is a difficult issue within the democratic party, i think of the administration is going to make a big push for trade, and spend political capital on it, it needs to have a somewhat different agenda that will do more for america as an economy and do more for our national security goal
what is at the center of the multi-lateral system. g-7 is outdated, doesn't include china, india, and other bodies are also not as effective. and to see this coming meeting is loud to lapse is an issue. i hope in the next few weeks we jump-start this process. >> i would use your term to the bank of england directly. if you're going to be a player and regulator, you don't win, then if you're the referee and the player and you can't win, then you've got a real problem on your hands. certainly i think our fed has done a better job to say we are going to get out of qe first and use other facilities to keep the system working the best we can. >> mohammed a couple of quick crude market questions before we run out of time. back on july 28th, headlines ran that said, as you know, el-erian said stock rally won't continue with lack of revenue. el-erian selling into corporate bond equity rally. is that still happening? do you think markets have hit their high for the year? >> we position ourselves more cautiously. we think at these levels risk assets of pricing a lot of good news, not just
.5 quake hit tokyo. a 7.6 hit india ocean near the indian islands triggering a tsunami watch. >>> right now, the white house is working on a list of 50 new guidelines to measure how successful the war is going in afghanistan. our top military official there, general stanley mccrystal said the taliban is gaining momentum and we should be prepared to lose more of our troops in the coming months. the fellow for new american security. he returned from afghanistan where he served on general mccrystal's strategy review team. good to see you. glad you could be with us. >> sure thing. >>> we're talking about a report that talks about afghanistan and the possible solutions. the deterioration of the situation in afghanistan is conspicuous. general mccrystal told "the wall street journal" that the taliban is gaining the upper hand. you recently returned from there, as you said, what did you find that the situation on the ground? >> the situation is deteriorating in one sense. the other sense, the american people should understand that it's not like the taliban or the network or any of these insur jebt
that will make the difference as to what regions have the most vibrant economy. we are competing against india, china, singapore, korea. gretchen: so many people would take you to task by saying that you could use the money that you already have for education and spend it more wisely. >> we have done that. we did not produce the results by accident. we did it by targeting spending. we said, here is money for pre- k education. here is money for after-school tutoring. here is money to put a laptop in every desk in a high school. brian: newt gingrich, jeb bush, and the president all seem to agree. i think we could use something, a topic that we get along with it, rather than the friction which health-care greenspan. >> i agree. spending, if it is done well, and targeted, it can make the difference. that was my message to the legislature. they should be proud of what they have done. the appropriated the money. steve: it is always progress when we get you on the show, governor ed rendell. thank you. gretchen: a high school official now on trial for city in a prayer in school banquet. she did not ev
manufactures, way better than expected. pre-bear. and they also saw the same thing in brazil, india, and china. >> well, you know, there was massive government intervention. >> right. >> massive, around the globe. here we go. at the big board, javelin investment management celebrating the recent look at jet dow jones islamic market international index fund. i don't get where the -- >> where the jets. >> i'll finger out where the jets come from. and at the nasdaq, the mt. sinai medical center. >> market reporters are standing by. let's get there. opening down 42. not full any open. bob, take it away. >> freddie mac is up here nicely, 122. that's a nice little move up there. 45-cent move. bottom line is, for the first profits in nearly of two years, sited a number of different things. change in accounting, that is kind of important. lower funding costs. gains in the company's derivative portfolio. fannie and freddie were the two most actively traded stocks. they don't need additional funding or financing from the u.s. government at this time. at this time is very important. they made a point of
, india and russia they have about 3 million people. and if the only educated 10% of their kids, only 10% that would give about the same as our population if we had educated everyone to a high level. let's just say we educate only 25% which is high right now. if we educated 25% but would just give 7million people. so, when you look up the global, a, you hav a poll of 375 million people. and then you have costs of living standard of living is based on and if people aren't really pushing for these global jobs who is going to gethem? so if our kids can't be adaptable, flexible, smarter, more innovativ it's going to have all lot to say about where we are going to be as a nation. so i use this as a backdrop to talk about what and visiting all of these countries over the past years that i have had an opportunity to visit, 23 of them inurope, australia, new aland and asia and some of them i have been anywhere from four to eight times and i look around with some people he been with me on some of these trips and what we try to do and understand i think is very important, and what does it take to
at china and india, they have both upped their forecast for gdp growth this year. and there's going to be a lot of demand right there alone.e. you can say the same thing for cell phones, two-thirds of us in the developing world. >> it's going to be non-u.s., your industry for a while at least? >> yeah. and again, i think that's been the case for some time now. yeah. >> so, where are the fabs now? we talked about this last time. >> right, yeah. >> and i'd like to kind of keep track of that.t. we still have a lot of fabs in the u.s. of is this overseas demand resulting in a shifting of where we make them? >> with still have a lot of fabs in the u.s. we still are investing in new state-of-the-art leading edge technology, leading edge capability here in the u.s. both in terms of wafer size, 12-inch wafers, at the load level, dimension level.l. as a consequence of that, still about 70% of the u.s.-based companies, production is taking place here in the u.s. and we think that's going to continue for the next few years. >> do you know what i don't hear anymore, and maybe it's because we've
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